2018 has already set the bar high for Australia's Construction sector. Infrastructure Construction activity is expected to increase by 10% in the next year – to $62 billion – and with huge investments being made in both Residential and Commercial projects nationwide, it’s no surprise that confidence in the industry is at the highest it’s been in four years.
Yet whilst growth is positive news for the most part, the industry’s limited resources are being exposed. A major talent gap is surfacing and organisations face a new challenge in their search for future leaders.
A Rebound For The Construction Industry
The most recent WT Partnership report, Construction Market Conditions 2018, has revealed that the infrastructure boom will drive construction activity nationally. New South Wales, for instance, is experiencing record levels of investment in infrastructure and a strong demand for Residential, Commercial and Retail projects.
February saw 713 projects move into the construction stage; 11.4% higher than in January. In addition, the construction value of February’s projects increased 20.2% on the previous month, to $5.1 billion.
Non-Residential Building activity is expected to increase by 12% in 2018, lifting the total value of activity to $42 billion. Already this year, Australia’s PCI (Performance of Construction Index) has risen substantially.
A Shift In The Hiring Landscape
Whilst growth is always a positive, it has - in this case - also revealed a shortage of resources. The infrastructure growth has added further financial pressure to the sector as well as exposing a major talent gap, creating a new industry-wide challenge.
With a strong work demand comes the need for sufficient resource. In Victoria, the availability of specialist consultants, subcontractors and suppliers is already low, these roles proving increasingly difficult to fill because of their precise skill requirements.
What’s more, business leaders with the right industry experience and strategic visions are in high demand. Organisations need leaders who can capitalise on available trade and see the wider market growth translate into tangible revenue; in a bid to stay at the forefront of this growing market, major firms are often left competing over the same talent.
The Need For Experts
CSG have a dedicated team operating within the Engineering & Construction sector who work from both our UK and Australia offices, recruiting internationally.
With a proven track record of success when it comes to sourcing and placing business-critical roles at senior level, our team keeps clients at the forefront of their fields. From SMEs to blue-chip multi-national corporations, we have worked with an array of clients globally, placing roles spanning from A&D Business Development Managers and National Sales Managers to CEOs.
If you are struggling to fill a role within this sector or are seeking a change in career, please don’t hesitate to get in touch at +61 (0) 484627448 or bianca.yorkedavies@csgtalent.com.au.
References
Business Insider, Australia's construction sector is booming in early 2018, 07.03.18
Architecture & Design, Growing demand pushing up construction costs, 19.03.18
ACIF, Two Up and Two Down - trends forecast the Australian Construction Market Report, 05.18
